JPMorgan Chase & Co. Acquires 5,077 Shares of AppFolio, Inc. (NASDAQ:APPF)

JPMorgan Chase & Co. lifted its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,278 shares of the software maker's stock after buying an additional 5,077 shares during the quarter. JPMorgan Chase & Co. owned about 0.44% of AppFolio worth $37,965,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Summit Global Investments bought a new stake in AppFolio in the 3rd quarter valued at about $759,000. Captrust Financial Advisors grew its position in AppFolio by 183.3% during the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker's stock worth $1,030,000 after buying an additional 2,830 shares in the last quarter. Baker Avenue Asset Management LP increased its stake in AppFolio by 16.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker's stock worth $5,057,000 after acquiring an additional 3,038 shares during the period. Advisors Asset Management Inc. increased its stake in AppFolio by 56.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock worth $92,000 after acquiring an additional 141 shares during the period. Finally, TD Asset Management Inc raised its holdings in AppFolio by 48.1% in the 2nd quarter. TD Asset Management Inc now owns 8,000 shares of the software maker's stock valued at $1,957,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors own 85.19% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APPF. Keefe, Bruyette & Woods cut AppFolio from a "market perform" rating to an "underperform" rating and decreased their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler lowered shares of AppFolio from an "overweight" rating to a "neutral" rating and set a $265.00 target price on the stock. in a report on Monday. Finally, KeyCorp cut their price target on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $261.75.

AppFolio Price Performance

Shares of NASDAQ APPF traded down $1.67 during mid-day trading on Monday, hitting $251.05. 192,607 shares of the stock traded hands, compared to its average volume of 175,969. The company has a market cap of $9.12 billion, a PE ratio of 69.93 and a beta of 0.87. AppFolio, Inc. has a twelve month low of $165.13 and a twelve month high of $274.56. The firm has a 50 day simple moving average of $243.37 and a two-hundred day simple moving average of $234.95.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same period last year, the firm posted $0.26 earnings per share. The business's revenue for the quarter was up 24.5% on a year-over-year basis. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, insider Matthew S. Mazza sold 926 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the completion of the transaction, the insider now directly owns 33,819 shares in the company, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the sale, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,768 shares of company stock worth $5,744,891. 5.24% of the stock is currently owned by company insiders.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.